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Debt Collection Software - Worldwide Market Analysis & Forecast (2018-2023): The Telecom & Utilities End-User Segment is Expected to Grow at the Highest CAGR - ResearchAndMarkets.com

[September 12, 2018]

Debt Collection Software - Worldwide Market Analysis & Forecast (2018-2023): The Telecom & Utilities End-User Segment is Expected to Grow at the Highest CAGR - ResearchAndMarkets.com

The "Debt Collection Software Market by Component (Software and Services), End-User (Banks, Collection Agencies, Finance Companies, Healthcare), Organization Size (Large Enterprises and SMEs), Deployment Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The debt collection software market size is expected to grow from USD 2.64 billion in 2018 to USD 3.73 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period.

The increasing focus on the multi-communication channel to reach debtors, growing need to outsource debt collection task to specialized collection agencies, and rising demand for cloud-based debt collection software powered with self-service payment models are expected to drive the growth of the debt collection software market.

The major factors that are expected to restrict the growth of the debt collection software market are inflexibility of the existing systems to process a large volume of debtor's information and limited IT resources.

Among end-users, the telecom and utilities segment is expected to grow at the highest CAGR during the forecast period. It becomes challenging for debt collection agencies and organizations to recover the amout of debt on time. In this digital era, debt collection software can be extremely helpful to debt collection agencies in collecting debt from consumers. Debt collection software offer the self-service payment platform to consumers for timely paying their bills and maintaining their credibility. This adoption enables the cloud segment to account for a considerable market size during the forecast period.

The implementation segment is expected to account for the largest market size during the forecast period.

North America is estimated to account for the largest market share in 2018 while APAC is expected to grow at the highest CAGR during the forecast period.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 Debt Collection Software Market, By Component

7 Debt Collection Software Market, By Service

8 Debt Collection Software Market, By Professional Service

9 Debt Collection Software Market, By End-User

10 Debt Collection Software Market, By Organization Size

11 Debt Collection Software Market, By Deployment Type